Remodeling Info from Weichert, Insights

Here is some information that I received from my company, Weichert, Realtors, to share with you, my readers:

According to Remodeling magazine's 2008-2009 "Cost vs.
Value Report," even despite the challenging economy,
investing in your home still pays off at resale. Based on
interviews with real estate professionals throughout the
country, the Remodeling report found that homeowners
could expect to recoup an average of 67.3 percent of their
investment in 30 different home improvement projects.

Exterior projects that boost curb appeal and kitchen remodels generally get the
biggest bang for the homeowner's buck. The right remodeling project, when done
well, also has the potential to make for a quicker sale and reduce negotiations
with buyers over perceived shortcomings.

Some of the projects that are paying off the most nationally this year at resale
include the following. The number in parentheses represents the percentage of
the project's cost that is recovered.

• Upscale fiber cement siding (86.7 percent)
• Midrange wood deck (81.8 percent)
• Midrange vinyl siding (80.7 percent)
• Midrange minor kitchen remodel (79.5 percent)
• Upscale vinyl window replacement (79.2 percent)
• Midrange major kitchen remodel (76 percent)

Tips for Buying Investment Property

During this current market, with the low prices, foreclosures, and short sales many people are starting to mull over the idea of investing in property, especially rental properties. There are definitely some things you will want to consider before starting your search, as you do not want to rush to find an investment property and have it turn out to be the wrong one for you.

1. Talk to an accountant and analyze your finances, start working on your credit score etc. You will want to have everything lined up so that you can ensure that you will be making money with your investment.
2. Be sure that you will be able to save your money towards other life goals (such as retirement, vacations, education, etc) even with making this investment.
3. Talk to a mortgage broker and get prequalified so that you know how much you will be able to borrow, and can start looking within that price range.
4. Do not overestimate how valuable the rental will be. You will need to figure in potential repairs and vacancy time.
5. Research your real estate market trends, you could possibly have a Realtor help with you this, so that you can have an idea of what the market has been doing and what its potential is in the future.
6. Decide how long you want to own the property as that will affect how much money you may potentially put into the property. The longer you own it, the more repairs that will need to be done over the years, to keep up with basic maintenance.
7. If you are a small investor, long term ownership does make the most sense, as you will not have to worry quite as much about market fluctuations, the longer you own a property, typically the more equity you will build in it over the years.
   
8. Do not get emotionally invested in a property. As this can make negotiations harder to do.
9. Have the property fully inspected, even if you are looking for a fixer-upper, as this can help you to know if there are going to be any unexpected expenses regarding things that will need to be fixed.
10. When comparing the rent on similar properties in the area you will need to be sure that you price your rent in a similar range (to ensure that it rents as well as the others do), while also being sure that the rental income will cover out of pocket costs.
11. If you are looking at properties in housing developments, you should check and HOA's or covenants to be sure that renters are allowed in those neighborhoods before you make an offer on that property.
12. Once you have your property you will need to decide if you want to manage it yourself or go through a rental company.

These are just a few things that you will need to consider before you purchase that first investment property, as you go along, there will be other things that you will need to consider. Each person will need to make this decision on their own, as every person and situation is different. So decide which route is best for yourself.

Getting Mortgage Quotes Online - 3 Tips for Internet Security

by Brandon Cornett

Thanks to the Internet, the entire real estate process has gotten a lot easier. You can find homes and research prices online, and you can even request quotes from mortgage lenders with less time and effort than in the past.

And while these are certainly good things, you must also exercise a bit of caution when getting home loan quotes via the Web. You need to protect your personal information at all times, and you need to learn about the various companies that offer this kind of web-based service. This calls for some light "detective" work on your part, and that's what I'm going to teach you in this article.

Before we get to the actual steps involved in this process, let me offer you some good news. With a little research and common sense, you can benefit from the convenience and efficiency of online mortgage quotes while protecting your identity at the same time. There are plenty of reputable companies that offer these services. Of course, there are some scams out there as well, but these will be fairly easy to spot once you read this article.

Without further ado, here are five ways to protect your identity while getting loan offers via the Web:

1. Go With the Names You Know

Generally speaking, it's best to use a company you've heard of before when requesting mortgage quotes through the Internet. Here's why. The fact that you've heard of them suggests that the company spends a lot of time, energy and money on their brand name. Such a company will go a long way to protect its reputation and brand, and they do this by providing a good service and looking after their customers. Personally, I would never offer sensitive information to an unknown company -- too much of a wild card for my comfort. I recommend you do the same.

2. Look for the 'S' in the Web Address

A website that is truly secure have the letter 's' in the prefix of the website address / URL. This means the site is encrypted to keep hackers and identity thieves out, as much as possible anyway. When you visit a lender's website -- and before you transmit sensitive information through the site -- check the web address that appears in your Internet browser. If it's truly a secure website, there should be an "https://" prefix before the "www" part. Note the all-important letter 's' in that prefix. If the address starts with "http://www" (lacking the letter 's'), then it's not a secure site.

3. Look for Third-Party Verification

Reputable mortgage companies will go the extra mile to have ensure their websites are secure for visitors. This will often include the use of third-party verification of site security. In other words, the company will hire another company to test and verify the secure areas of their website. You've probably even seen the certification seals on financial websites in the past. A common one is the "TRUSTe" seal of approval. In most cases, you can actually click on the image / seal to check the security status of the site you're on.

Conclusion and Going Forward

Using the Internet is a great way to get quotes for a home loans while saving time and energy in the process. You just have to exercise a little caution along the way. Follow the safety guidelines I've provided above when requesting mortgage offers via the Web, and you should be fine. And remember this mantra of Internet safety and security ... when in doubt, back on out!

* Copyright 2008, Brandon Cornett. You may republish this article if you retain the citation notes and hyperlink below.

Citation Note: This article was created by Brandon Cornett, publisher of the Home Buying Institute network of real estate websites. You can learn more or contact the author by visiting his mortgage refinance blog at http://www.mortgage-refinance-advice.com/blog/